MULTAN: The government has withdrawn sales tax on cotton seedcake after meetings with the Pakistan Cotton Ginners Association (PCGA).
PCGA Chairman Haji Hafeez Anwar said this while addressing a press conference. He was flanked by former PCGA chairman Mukhtar Baloch and former senior vice president Asim Saeed Sheikh. He said the government has given consent on waiving off new tax on cotton seedcake after dialogue on cotton crisis.
The government dialogue team consisted of Federal Board of Revenue Chairman Tariq Bajwa, Finance Minister Ishaq Dar, Commere Minister Khurram Dastagir Khan. The decision to withdraw tax will be approved in the next meeting of Economic Coordination Committee (ECC) on Friday.
The Pakistan Cotton Ginners Association demanded that the government ban import of Indian cotton yarn.
“The government should formulate better methods to overcome the further loss of cotton ginners and cultivators,” they added.
The government should take timely decision for the betterment of cotton industry and formulate a cotton policy to help save the industry from further financial losses, they urged.
